Digital Finance Group (DFG), a world crypto funding agency, has allotted 200,000 DOT to Efinity’s crowdloan.
The allocation, value over $7 million at press time, is the second time DFG invested in a mission competing for a Polkadot parachain—earlier this month, the corporate contributed 500,000 DOT to Acala.
DFG trying to spend money on as many parachain contenders as potential
Because the launch of Polkadot parachains will get nearer, the race to safe the coveted two-year slot is getting hotter and warmer. Acala and Moonbeam each noticed vastly oversubscribed crowdloans and the race for the remaining slots is certain to be even tighter.
DFG, one of many main cryptocurrency funding corporations within the trade, has allotted 200,000 DOT to the Efinity crowdloan, persevering with its funding within the Polkadot ecosystem. Efinity is a next-generation blockchain platform developed by the Enjin staff, which pioneered the NFT ERC-1155 commonplace on Ethereum. The platform desires to create a brand new developer and user-friendly expertise on Polkadot, geared toward supporting the rising NFT economic system.
— James Wo (@realjameswo) November 26, 2021
James Wo, the founder and CEO of DFG, mentioned that the corporate has been wanting into the NFT sector since 2019 when it determined to incorporate it in its funding technique. Nevertheless, an absence of a delegated blockchain for NFTs dissuaded the corporate from partaking with the expertise till they encountered Efinity.
“The presence of Efinity exhibits us a recent mindset of fixing this sore level throughout the trade. It’ll construct a scalable cross-chain community that enables the institution, use, and transaction of NFTs to turn into simpler, sooner, and extra reasonably priced in order that the buying and selling quantity and adoption of NFTs will be considerably improved,” he mentioned within the firm’s announcement.
Get an edge on the cryptoasset market
Entry extra crypto insights and context in each article as a paid member of CryptoSlate Edge.
Like what you see? Subscribe for updates.